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Central Iowa | If you're profitable at 5.80, sell some. Not all - since you've got to have some chips on the table just in case things get vertical with the drought. I sold some '13 corn via HTAs back first week of December at 6.30ish because I can make some money at that price. "You can't go broke if you're selling for a profit" they say. Today I read in the Iowa Farm Bureau paper that the American Petroleum Institute has made the repeal of the renewable fuels standard their #1 legislative priority this year. Uh oh!! Those guys have some serious $$$ to throw around Washington.
It got me thinking.............
Not too long ago...... 2005 I think..... I sold some corn for $1.86. I tried to hang on as long as I could.... hoping/praying for a 15-20 cent rally (that was a big weekly move back then - now it's just an intraday move). With bills coming due, I had to sell. (collected an LDP on it, but still not enough). I think most on this forum remember those days.
Yet here we are in 2013. $5.80 corn on the Dec contract!!! And it still isn't really enough to pay for the $800 NH3, $400 rents, $300/bag seed, $3.30 diesel, new/used paint, etc.
Bob Dylan said it best, "the times they are a changin'" | |
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Corn prices???
